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Sales up 16.4% at Yoox following Net-a-Porter merger

Italian etailer Yoox has reported a 16.4% increase in sales to €147.2m (£106m) for the three months to March 31, its first results since announcing its merger deal with London-based rival Net-a-Porter.

EBITDA was up 0.9% to €9.1m (£6.5m) for the quarter.

Federico Marchetti, founder and chief executive of the Yoox Group said: “The most important result in this quarter was the agreement for the merger with The Net-A-Porter Group, which will create the world leader in online luxury fashion. We will all work together with our focus on this goal in the coming months.”

In the first quarter of 2015, the Group recorded a monthly average of 18.8 million unique visitors, up 26.7% compared with the first quarter of 2014.

In March the etailer announced the deal with Net-a-Porter to create a €1.3bn (£940m) industry leader.

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